IndiaMART InterMESH Limited, India’s largest B2B online marketplace announced that it is all set to expand its footprint further in Tamil Nadu with new offices in Kanchipuram, Pondicherry, Tirunelveli and Vellore. Alongside, the company said it will hire local people on their payroll for operation of the new offices in the state. Besides, the company also announced their plan of establishing a customer service team in Chennai for assisting customers in the vernacular language. All these major announcements came at a conference which was held to address the difficulties faced by MSMEs which are based in Tamil Nadu, and the strategic approach taken by the company to mitigate those very challenges. The event was held at the Taj Club House in Chennai.
Speaking at the conference Mr. Dinesh Gulati, the COO of IndiaMART said, “IndiaMART has a strong presence in Tamil Nadu, it ranks 3rd in terms of total web-traffic on the platform. What we have seen is that, owing to the recent construction projects initiated by the government, most number of IndiaMART customers in Tamil Nadu are from the construction and real estate sectors. To cater to this growing market, we have already established 13 channel partners and 6 branch offices across the state including Chennai, Coimbatore, Madurai, Salem, Erode, Tiruchirappalli and Tirupur and we plan to expand its footprint in the emerging markets.”
Recently IndiaMart Intermesh Ltd reported a 61% rise in its consolidated net profit to Rs 112.8 crore for the third quarter ended December 31, 2022. The company reported a consolidated profit of Rs 70.2 crore in the October-December quarter a year ago. As per data, Its consolidated revenue from operations in the third quarter rose 33.65% to Rs 251.4 crore against Rs 188.1 crore in the corresponding period of the previous year.
IndiaMART is India’s largest online B2B marketplace, connecting buyers with suppliers. With a 60% market share of the online B2B Classified space in India, the channel focuses on providing a “360- degree solution” to Small & Medium Enterprises (SMEs), Large Enterprises as well as individuals. Founded in 1999, the company’s mission is ‘to make doing business easy’ and is trusted with 165 million buyers, 7.4 million sellers, and has 90 million products & services on its platform leading to ~40 million business enquiries every month.